Man indicted on tax fraud charges

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URBANA, Ill. (WCIA) — A Charleston man was indicted after officials said he allegedly failed to report and pay federal employment and personal income taxes.

In a news release, justice officials said Jay Fisher is expected to make his initial court appearance before U.S. Magistrate Judge Eric I. Long on April 19. It will take place in Urbana via videoconference.

“According to the indictment, Jay Fisher was responsible for the business of Financial Logic Inc., and, as such, was obligated to file a Form 941 and remit employment taxes for his employees,” said officials. “Employment taxes are comprised of federal income tax, social security, and Medicare taxes.” They continued to say that Fisher is accused of not paying more than $300,000 in employment taxes between 2015 and 2018. Additionally, he is accused of not filing and paying his personal income taxes between 2014 and 2018.

Fisher was charged with 21 counts of tax fraud. Officials said the maximum penalty for each of the 16 counts of failure to pay employment taxes is five years in prison and/or up to $10,000 in fines. For the five counts of failure to pay individual income taxes, that has a maximum of one year in prison and/or up to $25,000 in fines for each count.

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